Press Release

Hyundai E&C to strengthen business capabilities

Hyundai E&C, equipped with an engine to accelerate its growth as part of Hyundai Motor Group, is set to develop internal capabilities. Korea’s primary builder announced extensive personnel appointments and measures to improve the existing penalty system by adopting the second trial system, laying the ground to create more stable and systematic business environment. What is notable about the personnel appointments announced on April 22, as a follow-up measure of the April 5 restructuring, is to clearly reorganize the organizational structure into divisions, offices and teams. The restructuring will enable the 15 divisions, 64 offices and 174 teams to retain the consistency with Hyundai Motor Group while expanding the role of teams to secure professionalism and inheriting the strengths of Hyundai E&C including “speed management.” The penalty system was modified in a more reasonable direction. Instead of the existing first trial system in which an ethics and discipline committee is held to determine the punishment concerning the corruptions revealed, the second trial system started to be implemented after April 21. Under the new system, a person concerned can apply a retrial upon the notification of penalty to be imposed on him or her. The adoption of the new system will protect basic rights of the company’s executives and staff members and enhance the deliberation and fairness in determining punishment. Last week, the new design of business card was unveiled. The new business card includes both the integrated corporate image (CI) of Hyundai Motor Group and English CI of Hyundai E&C. The new card whose front is Korean and back is English can be used both at home and abroad, and it can be written in any languages according to regional characteristics.